iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Union Budget 2022: Government aims to take Digital Banking to the last-mile: PayPoint India

1 Feb 2022 , 07:55 PM

While digital banking and fintech innovations have grown rapidly in the recent past, the Government is continuously encouraging this segment to ensure that the benefits of digital banking remotest corner of the country.

Presenting the budget for the financial year 2022-23, the finance minister mentioned that the Government’s aim for this year would be to expand the scope of digital banking further and take it to every citizen and make it more inclusive. Taking forward this agenda, 75 digital banking units are expected to be launched in 75 districts to incentivize digital payments adoption and bolster the payments infrastructure further. The thrust on the digital ecosystem and the technology adoption in rural areas would immensely benefit from the move.

Further enabling financial inclusion is the move to connect 150,000 post offices in India to the core banking system, allowing people, especially in rural areas, to access their accounts online and transfer money within post office accounts and other banks.

Additionally, the launch of Digital Rupee is a move that comes at a suitable time. It would create a seamless and cost-effective payment system and eliminate the spread and use of unregulated digital currencies. We expect the virtual currency to positively stimulate the economy and help promote further innovations in the digital and blockchain technology ecosystem.

The author of this article is  Ketan Doshi, Managing Director of PayPoint India

The views and opinions expressed are not of IIFL Securities, indiainfoline.com

Related Tags

  • Budget 2022
  • Budget expectations
  • Budget Health and Education Cess
  • Budget income tax
  • Budget income tax reforms
  • Budget recommendations
  • Budget taxpayers
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.